Sunday, September 25, 2022

  • Planned launch of EFT Securities and Cosmos ETPs
  • Imran Khan of Volt Capital predicts that DAOs will reach $1 trillion in managed assets by 2032
  • New York is about to announce a two-year ban on PoW mining
  • Ethereum Layer 2 Optimism Attempts to Adopt Governance Structure
  • EPL Club Liverpool Reportedly Has Its Eye On a Crypto shirt Sponsor

The launch of three crypto ETFs in Australia has been announced

Last week, three börs-traded funds and the first of their kind in Australia were to be listed on Cboe Australia. However, hours before the live launch on April 27, the Securities and Derivatives Exchange announced that the products would be subject to change until pre-approval was carried out. Cboe Australia stuck to its word on the release of the announcement and only promised an update in the coming days.

According to a report by the Australian Financial Review the problem was caused by a third-party broker, as both ETF Securities and Cosmos wanted to launch their ETPs on the market. However, the news agency notes that a Prime broker had delayed the approval of the products because no automated market maker had been appointed.

Kanish Chugh, head of sales at ETF Securities, one of the issuers of the börse-traded funds, said that neither EFT Securities nor the Börse was to blame for the transaction. However, both ETF Securities and Cosmos vers „downstream service provider“  who, according to them, needed a longer time to support the trade.

According to the forecast, DAOs are expected to reach a managed value of USD 1 trillion in the next ten years

The founder of the crypto venture fund Volt Capital, Imran Khan, has predicted that decentralized autonomous organizations could increase the value of assets they manage to over $ 1 trillion.

In conversation with Business Insider the ceo of the Web3 Accelerator Alliance explained that this growth is driven by the use case that DAOs to remedy the lack of trust in capital and transactions via the Internet. He added that the rise of DAOs would transform certain market niches, such as the creation of startups, as the communities formed by these organizations address real-world issues.

Khan described DAOs as part of the natural development of online communities and said that they one of the best social coordination tools in the world;show. He believes that their further development will eventually eliminate centralized entities and the risks characteristic of them.

Data collected last week from the market research platform Messari share the DAO scene is exploding. The treasuries of these unmanned organizations sold more than $11 billion worth of crypto at the end of last year. There is still not much decentralization, as $4.2 billion of the total was held in UniSwap and BitDAO.

New York has come one step closer to blocking the POW mining operation

The New York legislature has passed a law to impose a two-year ban on the mining of Bitcoin in the state. The bill, which was passed at the beginning of last week, is now going to the Democrat-controlled Senate, whose approval will probably set some of the most comprehensive crypto regulations of today.

The ban, if implemented, will prevent new miners using non-renewable energy sources from settling in the Big Apple in the next two years. The bill also effectively instructs that the renewal of permits for existing companies that intend to expand their operations will also be prohibited.

The bill is part of the city’s efforts to achieve the ambitious climate target it has already set itself in 2019 with the adoption of the Climate Leadership and Community Protection Act (CLCPA). New York has committed to achieving net-zero CO2 status by 2050 and to reducing emissions by 40% in the short term by 2030.

Crypto advocates have already spoken out against such regulation, arguing that it will destabilize geographical interests and affect the labor market with the migration of miners.

In particular, the bill also requires the Department of Environmental Conservation (DEC) to investigate and report on POW mining within one year.

L2-Lösung Optimism opens a new chapter and embraces community ownership and governance

The Ethereum Layer 2 scaling Lösung Optimism has announced that it is now in the final stages of its current operating structure and reveals the intention to establish a governance-centric operating mechanism.

Optimism Collective, which described Optimism as a large-scale platform for conducting digital democratic governance for a sustainable decentralized ecosystem, overseen by the Optimism Foundation.

The new governance structure, called the Optimism Collective, would provide for the creation of two Flügelen – a Token House and a Citizens House. The Token House will be hosted by community members who participate in ‘Airdrop #1’ to receive the OP token. Token holders can vote and participate in governance matters, including „Protocol Upgrades“ and „Project incentives as part of a governance fund“. The Citizens House will govern the financing of public services and serve to decentralize power from the layer two chain.

In addition, the two Häusers are seen as growth drivers by promoting the distribution of funds generated by optimism for mutually beneficial actions.

English Premier League club Liverpool has Reportedly taken a look at the crypto jersey sponsor

The football club of the English Premier League (EPL) Liverpool wants to take over a crypto company as the new club sponsor. As described by The Athletic it is reported that if Liverpool becomes the first English football club to take on a crypto jersey sponsor, Liverpool should find an agreement with the crypto rse/blockchain platform, with which it is reportedly in talks.

Liverpool’s current contract with Standard Chartered läuft until 2023, and it is expected that the EPL giant will probably find an agreement with a new sponsor by then. While various numbers have been thrown around, the club is in a prime position to close a profitable deal due to the current performances on the pitch, in addition to its renewed loyalty to Nike.

Crypto entities have recently been frequently targeting gaming competitions and sports franchises in order to raise awareness among the mainstream public. Recently, Binance sponsored the Africa Cup of Nations (AFCON) from January to February, several crypto entities have partnerships with Formula 1 teams, and not to mention the $ 700 million renaming of the Staple Center to Crypto.com .

The post Weekly Report: New York Wants to Consistently block POW mining appeared first on BitcoinMag.de .